Davao City gears up for future medical partnerships from 2019 Taiwan Healthcare Seminar

2019 Taiwan Healthcare Seminar Davao

From computer technology to design innovation, the 2019 Taiwan Expo has opened new doors of opportunities for different industries in Davao City. Held last November 8 to 9, 2019, at the SMX Convention Center in SM Lanang Premier Davao, the expo featured well-curated product exhibits from various Taiwan brands and companies, as well as highly informative seminars conducted by product experts and innovators from Taiwan.

The most anticipated Taiwan Healthcare Seminar, with a theme “Smart Medical Innovation Brightens Your Life,” brought together top biotech innovators from the best and most advanced hospitals in Taiwan. Coming from reputable institutions Chang Chung Memorial Hospital, Dalin Tzu Chi Hospital, Lite-Med Inc., Biomaterials & Surface Engineering Industry-Academia Consortium, Taipei Tech University, Bionime Corporation, and Chung Hua Institute for Economic Research, the speakers shared their latest innovations to healthcare practitioners and professionals from all over Davao and Mindanao.

Dr. Chun-Te Wu, MD, PhD, of the Chang Gung Memorial Hospital discussed their many achievements in the fields of Liver Transplantation, Proton Therapy, Comprehensive Cancer Patient Care and Management, Cord Blood Transplantation, Craniofacial Reconstruction, and Orthognathic Surgery. Through its premiere medical facilities and equipment, including a dedicated Proton Therapy Center and Hybrid Operating Rooms equipped with Multi-Axis System for Interventional Radiology and Da Vinci Surgical Systems, Chang Gung Memorial Hospital has successfully served over 27,000 international patients in 2018 alone.

Dr. Ming-Nan Lin, MD, PhD, of the Dalin Tzu Chi Hospital shared their institution’s humble roots from being a charity medical foundation to being the first hospital in Taiwan to be certified with the Symbol of National Quality (SNQ). Its Integrated Rheumatic Disease Care headlined by the Knee Health Promotion Option, a comprehensive treatment plan for knee osteoarthritis, has earned the hospital the recognition alongside its other top-quality services such as Arthroscopic Cartilage Regeneration Facilitating Procedure and surgical treatments for spinal diseases.

Meanwhile, Lite-Med Inc. (Lighten Taiwan Excellent Medical), a professional medical device developer and manufacturer established in 1991, is leading the Shock Wave Technology industry in Taiwan. Lite-Med’s machines such as the ESWT(Extracorporeal Shock Wave Therapy) series is used for a variety of treatments, including blasting kidney and ureter stones and rehabilitating bone fractures, and even includes a real-time ultrasound tracking and locking system that makes diagnosis and treatment much easier.

Also sharing their latest innovation at the Taiwan Healthcare Seminar is Bionime Corporation, which developed Telehealth, a system that helps patients and doctors manage diabetes. Using an ergonomic strip to check blood samples, it provides accurate readings that are stored via cloud for easier access whether the patient is being treated at home or in a hospital.

Finally, Chia Ling Li from the Chung-Hua Institute for Economic Research (CIER) ran down the details of Taiwan’s New Southbound Policy (NSP). In essence, the mandate opens the country’s doors for patients and doctors from neighboring countries in the Southeast Asia region to gain access to Taiwan’s medical technology advancements. By implementing the 1C1C or One Center for One Country initiative, each country from the Southeast Asia Region will have one dedicated coordinating center to facilitate any needs: from sending patients over to Taiwan for treatments or to conduct business-to-business deals.

For the Philippines, the assigned coordinating center is the Hualien Tzu Chi Hospital, which is known for its expertise in organ transplantation, advanced cell therapy, and the implementation of Universal Healthcare policies. The National Kidney Transplant Institute, Chinese General Hospital Colleges, and The Medical City have already forged a memorandum of understanding with Hualien Tzu Chi and more hospitals in the Philippines are expected to follow suit.

Dr. Annabelle P. Yumang of the Davao Center for Health Development, Ms. April Marie Dayap of the Davao City Investment and Promotions Center, and Atty. Francis Layog, chief-of-staff of Davao City Vice Mayor Sebastian “Baste”Duterte, in their respective speeches prior to the seminar, expressed their gratitude to TAITRA for introducing Taiwan’s innovations to the medical community of Davao City. They also look forward to seal partnerships between healthcare institutions in Davao and Taiwan to make modern healthcare technology more accessible to Mindanaoan patients.

To learn more about the latest medical technologies from Taiwan and how they can help benefit medical patients in Davao and the rest of the Philippines, contact the Taiwan Trade Center Manila hotline at (02) 551-7281/551-7349/551-7339 or visit the TAITRA Manila website at https://manila.taiwantrade.com/.

Like and follow the TAITRA Manila Facebook page (https://www.facebook.com/taiwantradecentermanila/) for more updates.

GCash is making the digital marketplace safer for Filipino shoppers

GCash Customer Protect

With the increasing number of mobile wallet users in the Philippines, a large portion of consumers still remain skeptical of the technology. This only further fueled by fears identity theft or even credit card fraud.

According to The Nilson Report, a US-based research agency for news and analysis of the global card and mobile payment industry, global card fraud losses continue to be on the rise. From 2016 to 2025, projected fraud losses will nearly double, climbing from $22.8 billion to nearly $50 billion.

This is because more online hackers and cyber thieves are finding different ways to steal information or fool people into giving up their data through social engineering. One example is through fake e-mails or calls from supposed representatives of banks or credit card companies. These fraudsters ask for personal information in the pretense of confirming someone’s identity. Some even call their victims using a fake number to avoid being traced.

These tactics often used on customers of traditional banks and credit cards are the same ones being employed on individuals using digital financial apps. The lack of assurance that consumers and users feel regarding online safety and protection may be a deterrent to fully utilizing the power of mobile applications out of fear of being swindled.

Thankfully, GCash, the country’s leading mobile wallet, is cognizant of such threats and has come up with a program to provide increased peace of mind for users on their platform.

The initiative, called Customer Protect, is a first in the industry to protect and even compensate users in case of unauthorized financial transactions on their GCash app, GCash on Messenger or GCash Mastercard platforms.

These transactions may arise from untoward incidents of stolen mobile phones or identity theft. Customer Protect is a feature that enhances GCash’s advanced risk capabilities that are already in place, which actively analyze and monitor transactions to detect and prevent fraudulent activities.

Fully verified GCash users can receive compensation of the actual amount of unauthorized transactions not exceeding P100,000. Semi-verified users can receive compensation up to P10,000 while basic users can receive up to P2,000.

With the  introduction of this innovative program, GCash users can feel even more secure as they continue their usual daily transactions on the app, such as buying load, sending money and many others. Customer Protect frees GCash users from worry and gives them the confidence to embrace a fully digital lifestyle of convenience and immediacy.

Home Credit launches “Juan, Two, Three” campaign

Imagine a world where everyone is empowered to handle their finances; where people from different walks of life know how to make informed financial choices, whether it be on budgeting, saving, or borrowing. Even complex financial concepts such as “compound interest” are understood by many.

This world was the exact vision brought by Prague-based consumer finance company Home Credit when it first started its operations in the Philippines five years ago. Though this may seem far-fetched, given the latest figures from the Bangko Sentral ng Pilipinas (BSP) for 2017 stating that 77 percent of Filipino adults remain unbanked and 52 percent are unable to allocate money for savings, Home Credit Philippines (HCPH) continues its mission to bridge the gap in making more Filipinos included in the financial system. The company provides in-store loans to customers with minimal requirements, requiring only two (2) valid IDs, and offers other financial products such as cash loans and credit cards.

According to its Chief Marketing and Customer Experience Officer Franchette Cardona, Home Credit’s commitment to financial inclusion doesn’t stop at providing loans to the underserved. “Financial Literacy is our number one advocacy. Since many of our customers are first-time borrowers, we want them to be ready for the responsibility of having a loan.”

That’s why in 2016, Home Credit officially launched its flagship campaign “Juan, Two, Three”, which focuses on teaching the basics of budgeting and saving to different communities all over the country. Through the use of creative approaches like games and comic books, the campaign equips Home Credit customers and the public with the know-hows in handling financial tools.

Understanding budgeting

Most people would think that financial basics such as budgeting and saving are common knowledge nowadays—especially with the presence of technology, making financial information and services easily accessible.

Unfortunately, this isn’t the case with 21 percent of the 52.8 million adults in the country who do not have formal bank accounts because of their perceived lack of need for them. BSP’s 2017 Financial Inclusion Report also states that 10 percent do not have proper knowledge of how to open an account, while 8 percent have a lack of awareness about it.

On top of that, many Filipinos still often find the term “budget” as intimidating—associating it with being time-consuming, boring, and restrictive. Some even think one has to be good at math to be great at budgeting.

This gap in financial knowledge was something Juan, Two, Three was successful in identifying. “We’ve talked to farmers, students, teachers, even soldiers, and a lot of them have said that they didn’t understand the importance of keeping their money on formal bank accounts before. Others simply needed some extra guidance on how to start saving. You’d think these are things that most people would know already too,” Cardona shares.

For this very reason, the financial literacy campaign focused on creating learning materials and modules centered on the fundamental concepts and real-life applications of budgeting and saving.

“We want people to understand the importance of budgeting and having savings kept away. Our goal is to make them realize that handling finances can be enjoyable, flexible, and done in just a few minutes,” says Cardona.

Viewing loans and credit in a new light

Apart from budgeting and saving, Juan, Two, Three also touches on the topic of borrowing, which is largely anchored on Home Credit’s core business of providing financing services to customers who are often first-time borrowers.

“Since we offer loans, it’s important for us to also inform people, especially our customers, about the key principles of safe and responsible borrowing. Part of our financial literacy campaign is transforming the way people look at borrowing by teaching them how to properly manage their loans and maintain good credit score,” says Cardona, referring to the misconceptions usually attached to borrowing.

“Having the flexibility to buy the things you need, when you need it is a good thing. Making late payments, however, can negatively affect your credit score—making it more difficult to get loans and credit in the future,” Cardona adds. “We make sure people know both the benefits and risks associated with borrowing for them to have better financial decisions.”

Scaling up financial literacy

As part of its efforts in expanding its reach, Juan, Two, Three continues to build and strengthen its partnerships with both public and private institutions. Its long-term partnership with the DSWD’s Pantawid Pamilyang Pilipino Program has allowed the campaign to reach more than 16,000 people and 175 communities all over the country.

The campaign also started partnering with other stakeholders. This year, the Juan, Two, Three campaign joined Credit Information Corporation and BSP in the first ever Kapihan sa Manila Bay on financial literacy to support the government’s drive to promote financial inclusion in the country. It also visited farmers and major rice industry players in the recently concluded 9th National Rice Technology Forum in Mindoro.

The impact it has brought on the communities it has visited has earned Juan, Two, Three the 2018 Silver Stevie Award and 2019 Bronze Stevie Award for Innovation in Community Relations or Public Service Communications. The Stevie Awards is a premier award-giving body that recognizes outstanding organizations that make positive contributions in the industry.

“Our goal is to fill in the gap where financial education is needed. Right now, our main focus is to educate as many as we can and help them learn the basics so they can feel more empowered in handling their money. We’re also hoping that we encourage these people to become future Financial Literacy Ambassadors too so they can help educate more. These are small steps, but if we want to achieve something bigger, we have to start with these,” closes Cardona.

GCash and beep™ now use QR ticketing

beep card x gcash

Working moms who take the BGC Bus in Makati/Taguig or the Topline Express Ferries in Cebu City to get to work can now enjoy the convenience of QR technology.

AF Payments Inc., the company that modernized payment and ticketing in transportation through beep™, implements the first QR code transport ticketing system in the Philippines.
Metro Manila-based BGC Bus and Cebu-based Topline Express Ferries will now be shifting to QR code technology for payment and passenger ticketing.

In case you don’t know what a QR or Quick Response Code is, it’s a two-dimensional barcode that stores information and can be read rapidly by a QR reader. This allows quick passenger validation and entry into the paid or boarding areas.

So how does it work?

In addition to using beep™ card and beep™-powered Topline Express Ferries cards, commuters now have the option to buy QR code-based tickets that the commuter will scan before boarding the bus or ferry. The new system will replace manually validated paper ticketing to ensure quicker validation and hassle-free commuter experience.

Additionally, AF Payments is bringing in the convenience of mobile payments. In partnership with GCash, passengers of BGC Bus & Topline Express Ferries can now pay their fare using the GCash mobile app.

To pay using GCash, proceed to the ticket counter and open the GCash app on your smartphone. Choose Pay QR, generate your own QR code, and scan the QR code on the beep QR Reader. Your QR ticket will automatically print and the fare will be deducted from your GCash account.

With 6.5 million beep™ cards in the market and over 20 million GCash account holders nationwide, this initiative is expected to benefit a sizable portion of e-wallet customers in the Philippines. Passengers can now enjoy more options to pay and get tickets for their daily commute.

AF Payments Inc. is planning to roll out QR ticketing to other partner buses in Metro Manila in the coming months. QR tickets are easy to use and reduce implementation and integration costs for public transport operators.

Study says Pinoys prefer to use GCash for cashless transfers

Since its introduction to the country several years ago, GCash is now the top mobile wallet used by Filipinos for cashless transactions, comprising 4.9 million out of the overall 6.4 million mobile wallet remitters in the country. This, according to a 2019 study conducted by The Nielsen Company.

Cashless transfers are defined as the use of any device or tool to send and receive money online, including bank transfers. Filipinos utilizing cashless transactions now comprise 19 percent or 9.3 million out of an estimated total of 49 million who do money transfers.

“There are 39.7 million who are still into exclusive cash-to-cash transfer and who have not tried a cashless solution. There are 2.9 million non-mobile wallet cashless remitters as well. These present a lot of potentials for mobile wallets to expand and capture large, untapped segments,” said Mynt president and chief executive Anthony Thomas.

Sending allowance for children and family members is the top reason for money transfers, and e-wallets are seen to become increasingly relevant and attractive as it provides more functions and benefits. “GCash provides added accessibility and convenience that does not disrupt but rather enhance one’s current lifestyle,” explained Thomas.

GCash as a mobile wallet offers easy cash-in and cash-out options, through debit cards and linked bank accounts as well as offline at 7-Eleven, MLhuillier and many other establishments. The study also revealed that mobile wallet users prefer GCash because it charges low or no service fees for digital transactions.

GCash, being the leader in the mobile wallet segment, aims to continuously innovate and improve the user experience through added-value services and features. Remitting money is more personalized and fun with options to attach photos and videos or to send money in lucky Ang Pao form. The KKB feature on GCash also allows payments to be split equally or managed among a group of users.

GCash also provides users with increased security and peace of mind when using the app with the recent launch of Customer Protect, a program that provides compensation for unauthorized financial transactions on their GCash app, GCash on Messenger or GCash Mastercard platforms arising from instances such as stolen mobile phones or identity theft.

“GCash has thought of the end-to-end experience and is providing the best way to facilitate money transfers by thinking of and putting our customers first,” concluded Thomas.

Bad spending habits revealed about savings in #PlsSaveMe Movement

In what could be the most honest and revealing ad yet about financial mismanagement, young professionals are breaking the taboo by talking about their lack of savings and their mishandling of money. From TV actors to corporate workers to call center agents, Filipinos are coming out of the closet with stories of their bad spending habits and a call for help in managing their finances in the latest ad for GCash.


“As a doctor, I can save lives. I just can’t save money,” says Erica. Meanwhile, Lourdes, a familiar actress in primetime TV series, says she often plays the character of a rich woman, but her wallet is empty in real life. Human Resources officer Nico also says he takes care of hardworking employees but has neglected to take care of his hard-earned money.


“I won P500,000 in a reality show and I spent it all in one week! Di ko nga alam bakit nila ako kinuhang endorser dito,” popular actor, host, and VJ Robi Domingo shares in the ad, which has had over 60,000 views since it was released on GCash’s official Facebook page on Oct. 3.

The ad highlights an ugly truth that has been covered up by all those beautiful YOLO and FOMO pictures on social media: 66% of Filipinos do not have savings. The Bangko Sentral ng Pilipinas has reported that only 35.2% of Filipino households had any savings at all from April-June this year.


“Let’s begin to change that. Share your story and use the hashtag #PlsSaveMe to join the movement,” the ad goes. As Domingo shared his shocking P500,000 confession on Twitter, other users shared stories of working for years and still being penniless.


“Not my first job but it is my first work na sobrang na-overwhelmed (sic) ako sa sweldo ko tho d sobrang laki. Nakatanggap ako ng 15k+ in 1 cut off and spent 10k of it in less than 5 days. I don’t even know where those (sic) money went lol. Now I’m jobless,” Yow, a netizen, tweeted in response to Domingo’s call to share #PlsSaveMe stories. “You know, I’ve been working for 4 years and 6 mos. on (sic) my current job and been “rumaraket” twice a week ever since. Yet 0 pa rin savings ko coz of my luhos,” Jera Gallero also said.


Many stories come from breadwinners who have been working for as long as 13 years but still have no savings because they give everything to their parents or spend their salaries on their siblings’ tuition. “OFW here. A decade abroad but still no savings. I didn’t buy expensive things for myself but I sent everything to my love ones (sic),” a woman who identifies herself as Hyun Jae said. Another netizen, Kat, says, “I always plan to save a small amount of money. It’s been years and it’s still a plan. Zero savings.”


As more and more people recognize the problem of financial mismanagement, GCash encourages others to join the movement to find solutions to the challenge of saving.

What’s your #PlsSaveMe story?

Transitflix revolutionizes transit ads and provides extra income for TNVS drivers

On September 6, 2019, transit advertising platform Transitflix held its official launch at the F1 Hotel on BGC.Formerly known as GYPSY, Transitflix is the realized vision of 26-year-old founder and CEO Geoff Mabasa, who says that, “(our vision is) to make transit advertising easy and effective for stakeholders while bringing value to the members of the communities.”

Formerly known as GYPSY, Transitflix is the realized vision of 26-year-old founder and CEO Geoff Mabasa, who says that, “(our vision is) to make transit advertising easy and effective for stakeholders while bringing value to the members of the communities.”
Transitflix chief of staff Genevieve Reyes opened the event by sharing the origin story of their company. Called the “Tocino Story,” it was when Geoff was offered tocino while riding a TNVS car on his way home that the idea for Gypsy first came about. The concept was fleshed out and they later decided to rename it Transitflix “to live up to a more global recall but our values have not changed.”

To further give the launch attendees a deeper understanding of how the Transitflix ecosystem works, an advertiser panel was facilitated to see the challenges that all types of brands were facing and their expectations towards new marketing.Like what the Lea Ladaga, managing director of Techtonic Summit said, “How do we build a community that actually involves them also? Because it’s not about the competition, it’s about continuously growing together… they have values that they want to push forward for innovation and collaborations is always at the heart of everyone.”

Transitflix CEO and founder Geoff Mabasa

On the other hand, a partner driver panel also expressed the challenges they face everyday and how the platform has helped them earn extra income. “Bumibyahe kami ng matagal kasi may inaabot kaming kita kada araw dahil sa mga kailangan naming bayaran… kaya nagpapasalamat kami sa Transitflix at dumating kayo sa buhay naming mga TNVS driver at napaka laking tulong samin sa pang araw-araw na pamumuhay.”

To give a better overview of the two sides of the ecosystem, they also premiered a thematic video that showcase the correlation of the partner drivers and the stakeholders onboarded with Transtiflix.
Like what the Lea Ladaga, managing director of Techtonic Summit said, “How do we build a community that actually involves them also? Because it’s not about the competition, it’s about continuously growing together… they have values that they want to push forward for innovation and collaborations is always at the heart of everyone.”

On the other hand, a partner driver panel also expressed the challenges they face everyday and how the platform has helped them earn extra income. “Bumibyahe kami ng matagal kasi may inaabot kaming kita kada araw dahil sa mga kailangan naming bayaran… kaya nagpapasalamat kami sa Transitflix at dumating kayo sa buhay naming mga TNVS driver at napaka laking tulong samin sa pang araw-araw na pamumuhay.”

To give a better overview of the two sides of the ecosystem, they also premiered a thematic video that showcase the correlation of the partner drivers and the stakeholders onboarded with Transtiflix.

In the next five years, Transitflix plans to expand their global footprint starting with South East Asia, specifically in Indonesia. On the second year of operation, Transitflix is also starting to tap on other modes of transit advertising such as car wraps and bus wraps.

GCash launches Customer Protect program for users

GCash Customer Protect

Still adamant about signing up for a mobile wallet? Scared that you might get hacked or that your data security might be compromised? You don’t have to worry that much, says GCash. With its new Customer Protect program, the leading mobile wallet powered by fintech startup Mynt gives users added peace of mind.

Under the program, GCash users are assured of compensation for unauthorized financial transactions on their GCash app, GCash on Messenger, or GCash Mastercard platforms arising from instances such as stolen mobile phones or identity theft.

To avail of the compensation, a user must file a report regarding any irregular transaction, such as unauthorized withdrawals or point-of-sale (POS) purchases, on GCash’s official customer care channels within 15 days from the date of the said transaction. Eligible and valid disputes can be reversed for amounts of up to P100,000.

“The GCash Customer Protect program is a recourse that our valued users can take should they, unfortunately, fall prey to physical or virtual theft,” said Anthony Thomas, GCash president and chief executive officer.

At the same time, the Customer Protect program is a campaign for increased cybersecurity awareness and education, especially regarding full verification of one’s GCash account. “It is extremely important for users to comply with the verification process of GCash based on the Know-Your-Customer (KYC) mandates of the Bangko Sentral ng Pilipinas,” explained Thomas.

Full verification on GCash requires a user to establish legitimate identity through the submission of valid government identification cards and a selfie, as well as a series of mobile phone and contact information verification.

Fully verified GCash users can receive compensation for the actual amount of unauthorized transactions not exceeding P100,000. Semi-verified users can receive compensation up to P10,000 while basic users can receive up to P2,000.

Our intelligent risk management approach remains to be the first line of defense in protecting our users,” said Thomas. “Using our advanced risk capabilities, we analyze and monitor transactions round-the-clock to detect and prevent fraudulent activities.

Our Customer Protect program is an added benefit we extend to GCash users for their enhanced peace of mind and maximum enjoyment of the advantages that a fully digital lifestyle brings,” he concluded.

Fly Cebu Pacific now and pay later via Cashalo

Pay With Cashalo

It’s so easy to book a flight these days, thanks to the help of online airline booking platforms and other modern methods. Sadly, despite having access to the internet, many people still get stumped whenever they get to the payment part of the process, which usually only accepts credit cards.

Many could probably relate to the frustration of a hardworking mom who has finally saved enough for a family vacation, only to find out she couldn’t avail of the online-exclusive airfare discounts because she doesn’t have a credit card. And what about those who lack the budget to fly out immediately for an emergency, like a very important work trip or, worse, having to see a relative in the province who is already in a critical medical condition?

Fintech company Cashalo continues to provide more solutions for financially underserved Filipinos through its partnership with local airline Cebu Pacific. Cashalo’s new digital-credit payment solution is the first-of-its-kind to offer airline ticket financing.

Pay with Cashalo is a product designed to provide a transparent and consumer-friendly payment alternative to cash and traditional credit. Echoing its mission of making digital financial services more easily accessible to everyone, including unbanked and underserved Filipinos, Pay with Cashalo gives unrivaled choice, freedom, and flexibility to address their lifestyle needs and manage their financial well being through secure, simple and convenient digital-credit payment options.

On top of making digital payments easier and more accessible, Cashalo’s mobile-first solution helps elevate the shopping experience of Filipinos. Pay with Cashalo empowers Filipino consumers to easily pay for their online or offline purchases over time, even without a credit or debit card. Data from the Bangko Sentral shows that less than 16 million Filipinos or roughly 23% of the population have bank accounts, with less than 10% owning credit cards.

As part of the launch, Cashalo has extended its existing partnership with Cebu Pacific to introduce the regions first-ever ‘airline ticket financing’ solution designed to enable more Filipinos to fly now and pay later. Through Pay with Cashalo, travelers can book domestic flights up to a maximum of P7,000 on Cebu Pacific, use the new digital-credit solution as a payment alternative, then pay later in affordable installments over three or six months.

Hamilton Angluben, general manager of Cashalo, says, “Through innovation, we are able to unlock greater financial possibilities for more Filipinos. As a first-of-its-kind solution, we firmly believe that ‘Pay with Cashalo’ can transform how Filipinos from all segments of society transact online and build a more secure financial future. We’re thrilled to launch this product with our valued partner Cebu Pacific who shares our mission to empower every Juan with more opportunities and create memorable moments.”

The Pay with Cashalo option is fully integrated into the booking system of Cebu Pacific. Travelers can easily choose Pay with Cashalo as their preferred option and enjoy its benefits as they book their domestic flights, with application approval in as fast as three hours.

Candice Iyog, Cebu Pacific vice president for marketing and customer experience, says, “As Cebu Pacific enables every Juan to fly by broadening the base of travelers with affordable and accessible
flights, our partnership with Cashalo will harness more potential travelers through a fly now, pay later scheme. It will enhance payment options for our customers and even provide assistance to those who have urgent travel needs.”

In the coming months, Cashalo will be partnering with many more e-commerce platforms and merchants to integrate Pay with Cashalo as a payment alternative. Cashalo is deeply committed to developing innovative financial products designed to unlock financial access and opportunity for more Filipinos.

Earlier this month the company launched its national grassroots financial education program Cash Academy that works with public and private sector partners to distribute offline and online learning modules and training resources purpose-built to develop a generation that is more financially aware and better equipped to make responsible financial choices, making them “Pera Experts.”

P500k credits awarded to 500,000th CIMB and GCash customer

CIMB Bank PH GCash 500,000

Approximately six months after opening its doors for business in the Philippines, CIMB Bank and GCash have now welcomed their 500,000th customer.

The all-digital, mobile-first CIMB Bank PH was launched in early 2019, with a goal of bringing a unique and differentiated banking proposition to Filipinos. Anchored on a DNA of strong strategic partnerships and solving customer pain points digitally, it forged a partnership with e-payments platform GCash, owned by Mynt, the revolutionary fin-tech startup of Globe
Telecom, Ayala Corporation, and Ant Financial, an affiliate of Jack Ma’s Alibaba Group.

Together, CIMB Bank PH and GCash launched GSave, a product that gives customers direct, paperless, and seamless access to savings account services.

The 500,000+ GSave users are now enjoying the benefits of CIMB’s savings account, which is available as the Save Money feature on the GCash app. GSave offers an interest rate of 3% per annum, which is more than ten times higher than those interest rates offered by most Philippine banks.

Additionally, GSave does not require an initial deposit or maintaining balance, nor does it impose service charges for transactions—greatly reducing the barriers for ordinary Filipinos to open and maintain a savings account.

Tengku Dato’ Sri Zafrul Aziz, Group CEO, CIMB Group, who was in Manila to celebrate the milestone said, “CIMB Bank PH is surely the fastest growing bank in ASEAN, a wonderful achievement, and a strong testament of things that can be achieved in the regime of digital-only banks. We are motivated by this and will continue to innovate for our customers. Well done to the teams.”

In line with this, CIMB Bank PH and GCash also announced that the GSave bank account will be exclusively offered only on the GCash platform. The companies also said they will be working together to make added suites of financial services products available to GCash customers in the future. These services will be announced in due course.

Zafrul added, “The partnership with GCash was central to us achieving this milestone. It is a live case study of bank-tech partnerships, a combination of banking expertise and technology platform plays, and the opportunities it allows both parties to access. I look forward to developing more propositions with GCash to further establish our mobile banking presence in the Philippines.”

Anthony Thomas, President and Chief Executive Officer of GCash affirmed its shared mission with CIMB Bank to increase the accessibility of financial products and services for all Filipinos. “The acquisition of 500,000 users is a clear testament that the partnership between GCash and CIMB Bank through GSave is a success. We welcome this achievement and the deepening of our collaboration with CIMB Bank, and assure our users that we will continue to provide more innovative services to address the banking and financial needs of Filipinos who aspire for financially better lives for their families.”

Seigfred Barcelona is the lucky 500,000th customer of CIMB Bank PH and GCash. At an exclusive media event held this August, Barcelona was awarded P500,000 worth of credits on his GSave account.